Residual Risk within an Organization
Question
Which of the following BEST illustrates residual risk within an organization?
Answers
Explanations
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A. B. C. D.A.
Residual risk is the risk that remains after an organization has implemented its risk management strategies. It represents the level of risk that still exists even after all the security measures have been put in place.
Out of the options provided, the risk register is the best illustration of residual risk within an organization.
A risk register is a document that contains information about identified risks, their probability of occurrence, potential impact, and mitigation measures. It is used to monitor and track risks throughout the project or program.
The residual risk column in the risk register contains risks that remain after mitigation efforts have been implemented. These risks may still pose a threat to the organization and need to be closely monitored.
The other options listed are also important in managing risks within an organization, but they do not specifically illustrate residual risk.
A risk management framework outlines the process for managing risks within an organization, including the identification, assessment, and mitigation of risks.
A business impact analysis is a process of assessing the potential impact of a disruptive event on an organization's critical business operations.
A heat map is a visual representation of risks and their likelihood and impact. It provides a high-level view of risks and can be used to prioritize risk mitigation efforts. However, it does not specifically illustrate residual risk.
Therefore, the best option that illustrates residual risk within an organization is the risk register.